Then you'll need to build a team of contractors to handle renovations and to help with things such as property inspections.

I have a robust team of mortgage lenders, title companies and RE attorneys.

Establishing a good local team will be crucial for you. 

Focus on areas with strong rental demand, like Broad Ripple, Fountain Square, or near universities like Butler and IUPUI.Maintenance Costs: Indiana weather can be tough on properties, so budget for seasonal maintenance like snow removal and HVAC servicing.Additional AdviceKeep an Emergency Fund: Unexpected repairs or vacancies can arise, so having 3-6 months of expenses saved will help you weather any surprises.Build a Reliable Team: I have lists of contractors, handymen, cleaners and property managers if you'd like me to send.Good luck with your property and future expansion!

Being out of state, I would suggest vetting your "team", meaning find an investor realtor, lender/s (hard $ / long term), property manager, contractors, etc.

An additional benefit of a detailed engineering-based Cost Segregation Study is that it can increase potential insurance premium savings as well as provide support for the property tax appeals process.

These are the critical tests you will need to achieve and support with a detailed time log.

Right now, you may be looking at it as scalable, but assembling a team without a track record is hard because some may end up being leeches.

Best of luck building your team and making your investment work for you!

I know a couple of the Realtors on the team at Suncoast Property Management, Acquisitions & New Construction Manager, Gretchen Kornutik, REALTOR® - Good person.